Agsafe Weekly Rural Report

Finance:  The NZ dollar remained steady over the week as the world settles into increasing international tension.  Anything could happen!!    Brent Crude rose late in the week with the increase of tension in the middle east, currently around $US78/barrel. 

Wool:  Wool prices remain in the doldrums.    There is talk about how great the product is but still nothing commercially happens.

Beef, Sheep & Venison schedules: The meat schedules are steady and there is good demand for red meats from all our trading partners but it has not yet been converted into increases in the schedules. Lamb prices are up but still too low.

Dairy Prices.  The g/DT lifted ccc% to its highest point in 12 months.  WMP +3% $US3559, SMP -0.6%, butter -1.4% and cheddar lifted 3.8%.   The result was better than anticipated and underpins the projected Farm Gate Milk Price.

The final payouts for the 2023/24 season are in:  Fonterra $7.83 (only fair) Fonterra Organic $10.92, Maraka $8.00, OCD $7.84 but ¼ ly adjustments. Tatua $12.20 with a $1.70 retention = $10.50 paid.